Managerial accounting overview chapter one
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Managerial Accounting: Overview Chapter One. FINANCIALMANAGERIAL OutsideInside Follow GAAP/IFRSTimely and Relevant Standard Report FormatReports unstructured. TRADITIONALLY. “Idleness Waste Money” or if manpower and machine are not running you are losing money.

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Managerial Accounting: Overview Chapter One

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Managerial accounting overview chapter one

Managerial Accounting: Overview Chapter One

  • FINANCIALMANAGERIAL

  • OutsideInside

  • Follow GAAP/IFRSTimely and Relevant

  • Standard Report FormatReports unstructured


Traditionally

TRADITIONALLY

  • “Idleness Waste Money” or

  • if manpower and machine are not running you are losing money


Push through production old

Push through production---old

  • PUSH through Production –old way

  • Three inventories: Raw Materials (RM), Work in Process(WIP), Finished Goods (FG)

  • RM | WIP FG

  • Company Queque Results in Large

  • Inventory waiting to be sold


Lean production

Lean Production

  • Lean means Less Costs

  • Advantages:

    • Lower Inventory required

    • Fewer Defects

    • Less Wasted Effort

    • Quicker Customer Response


Lean production con t

Lean production con’t

  • Summaries all theories into 1

    • Value Added

    • Flow Chart of Activities

    • Manufacturing Cell

    • Just in Time (JIT)

    • Theory of Constraints


Value added

Value Added

  • Activities that add value per customer

  • Chip Box vs Dove Box


Flow chart of activities

Flow Chart of Activities

  • Actions required to make product

  • Smores

  • Burn Place between Add SQUEEZE

  • MarshmellowGraham Cracker chocolate


Add the 3 m s manpower machines materials

Add the 3 M’s (Manpower, Machines, Materials)

  • Smores

  • Burn Place between Add SQUEEZE

  • MarshmellowGraham Cracker chocolate

  • Cook CookCookCook

  • Burner/Fork Fork Clipper Press

  • Marshmellow 2 Graham Crk Choc Sq


Traditional production

Traditional Production

  • Several large Machines with only one job each

  • Mixing Machine

  • Cutting Machine

  • Wrapping Machine


Manufacturing work cell

Manufacturing Work Cell

  • One Machine performing several jobs

  • Several Multi-job Machines

  • Each Machine Mixes-Cuts-Wraps


Just in time jit

Just In Time (JIT)

  • Pull Through Production--- Customer initiates

  • RM  WIP   FG (Customer order)

  • Shipped immediately to customer

  • No queing of inventory


Theory of constraints

Theory of Constraints

  • Control of Bottlenecks

  • Increase capacity to remove bottleneck where process has smallest capacity

  • Freeway system --- Norwalk on Interstate 5

  • Throughput time--- Cycle time to manufacture a product


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